A study has found that used combustion engine models are on average £2,560 more expensive than equivalent electric models from the same manufacturer, a difference of 10%.
CarGurus – a leading automotive marketplace in the U.K. to shop, buy, and sell used vehicles – analysed the average prices of electric vehicles (EVs) that offer equivalent fuel-powered models from the last four model years to determine which option provides the best value.
The study examined second-hand vehicle listings from the U.K.’s top 30 manufacturersi, comparing those that offer standalone electric and comparable fuel-powered models. The brands with the greatest selection of listings fitting this criteria included Skoda, Mazda, VW, Jaguar, and Renault.
Of the models analysed by CarGurus, the EV that presented the greatest value against its internal combustion engine (ICE) alternative was the 2021 Mazda MX-30, available for 28% less than the ICE alternative CX-30 (an average of £12,180 vs. £16,960 as of year-end 2024).
In addition to the 2021 generations, the 2024 Mazda MX-30 was on average 24% cheaper than the CX-30 (£19,580 vs. £25,743). Mazda wasn’t the only automaker offering EV savings. The 2021 Jaguar I-Pace was 22% less than the F-Pace from the same model year (£25,629 vs. £33,012), and the price of the 2022 Skoda Enyaq was 19% less than the 2022 Skoda Kodiaq (£23,056 vs. £28,307).
Similarly, the 2021 Renault Zoe was 16% cheaper than the Clio, and the 2021 generations of Volkswagen’s ID.3 and ID.4 were on the market for an average 14% and 8% less than the respective 2021 generation Golf and Tiguan.
The research suggests that customers looking for the best value used cars should opt for a three to four-year-old EV, as this represents the sweet spot in terms of value for money versus the equivalent ICE model.
In addition, CarGurus explored the typical mileage of models listed on the platform and found that, on average, EVs had 18% fewer miles (equating to 3,252 miles) than the comparable ICE models, further adding to their appeal.
Chris Knapman, CarGurus U.K. Editorial Director, said: “The days of electric cars costing significantly more than their petrol or diesel equivalents are over – at least as far as the used market is concerned. The SMMT data on used car sales from 2024ii highlights that more used EVs were sold than ever before, with figures up 57.4% versus 2023.
“Our research shows just what good value some used EVs currently represent, including long-range models such as the Skoda Enyaq and Jaguar I-Pace. While it’s no secret that, right now, electric vehicle ownership won’t work for everybody, it is equally true to say that it can be a fantastic fit for a lot of motorists. With the potential for thousands in savings over an equivalent petrol or diesel model, combined with lower running costs, there’s never been a better time to consider EVs on the used market.
“What’s more, it’s not only the pricing that is currently very attractive: compared with the earliest EVs, where the range might be limited to under 100 miles, newer models have improved dramatically with greater ranges, faster charging, and stronger performance.”